$XRP XRP is a cryptocurrency developed by Ripple Labs, designed for fast and low-cost cross-border payments. Unlike Bitcoin, which relies on mining, XRP uses a consensus ledger, making transactions more efficient. It can process thousands of transactions per second, with settlement times of just a few seconds and minimal fees.

XRP aims to bridge traditional finance and crypto by enabling banks and financial institutions to move money quickly and cheaply. However, it has faced legal challenges, notably a lawsuit from the U.S. SEC over its classification as a security. Despite this, XRP remains a major player in global remittances and payments.